California + Retail | January 5, 2017

CBRE Secures Macy’s Disposition Assignment

Los Angeles-based CBRE Group Inc. won an assignment to dispose of 33 Macy’s stores in 20 states slated for closure as part of the Cincinnati-based retailer’s larger plan to shutter 68 of its 730 stores.

CBRE’s Jack Durburg said, “We are honored to assist Macy’s, a storied retailer that helped create much of the American retail landscape, as it charts its course to a future of continued retail leadership.”

Macy’s disposition process is complex, given the range of property types, number of markets, deal types (sale, sublease or assignment), and other factors including interest rates, financing, as well as ecommerce and consumer buying preferences.

That will require CBRE’s national group of retail experts to guide Macy’s through an intricate process to maximize value. Given the scope and potential impact on malls, there’s tremendous opportunity to reposition or redevelop sites with new uses.

Mapping Macy’s Dispositions

Inside The Story

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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